What would you do?

I figured I would ask my fellow Tacoma owners what they thought of this. I'm considering letting my truck go. But I'm pretty torn about the whole idea.

Background...

I'm currently designing a home I want to build for my family and I to live in. We've been living in our current home for 12 years now, and I'm so sick of it I'm starting to lose sleep at night. It's a slightly older average home for this area (read that as major boring)....with very little potential for fixing up - renovating - or making into a nice place to remain living in for years to come. Building and Lot prices around here are quite high (especially Lot prices). So to get into something worth living in for many years to come, we're going to have to make some sacrifices. The largest payment we have (besides our mortgage) is the truck. Dropping that payment would likely make the whole new house thing a certain reality. But it's also a harsh thing to think of selling my truck. I love this thing. I've drooled over Tacoma trucks since 2005....and waited with anticipation until I finally got one. I'm trying to convince myself that once I get settled in the new place....and cash flow returns, I can simply go out and get another one.

So what would you do?

 

If getting rid of your truck is the only option I think it's quite obvious what the right choice is. You sound like you have your mind made up and just need a push. I've said it before and I'll say it again. It's just a truck, family is more important.

 

x1000 family is more important.. you can replace the truck... cant replace the loved ones.

btw.... sell the truck and get an older taco / pre taco.... you will have the best of both worlds! a toyota truck AND your home

 

Your house will only make more money the longer you keep it. The truck depreciated the second you took hold of it.

Keep the truck. Keep the current house. Save for a new house. You're going to throw away at least $3000 by selling that truck so new. And if you're just going to get another one...why bother?

Unless the house is actually falling apart around you...that'd be my advice. Are you in Airdrie or are you in Cowtown too?

 

In Red Deer actually.

Tim is right that I've mostly made my mind up. I may take a small loss with the truck, but I want the house pretty bad. I took a pretty good look around though (online). Very few '09 and up DC 4x4 Tacoma Sports around for sale. And the ones that are, seem to be holding a high market value. I might not take too much of a loss.

My current house isn't falling apart, but I hate it more and more each day. Although I love my truck, there's absolutely nothing unique about it, and after a year or so (when the dust settles) I can go get a new one. And possibly even take advantage of some of the incentive plans that Toyota is rolling out.

Took a quick look online at some older Tacomas.....damn they sure keep their value. I doubt I'll pick one up if I'm going budget mode. I may look at a DC 4x4 Dakota (2002 to 2004). They're pretty cheap.....and it won't break my heart to ditch it once I'm ready to get back in a Tacoma. We'll see though.

Gaahhh....can't believe it looks like I'm going to do this.

 

sell your truck to a private party to get max $$ and buy a first gen 4 door or a 4runner. decent 4runners are going for $6k and up and 4 door tacos are $8k and up down here in the states

 

I looked quick the other night, and there sure wasn't much for older Toyota trucks around here. And they were VERY pricey yet. I think I saw an '01 for just under 12k (Cdn). I'm not too sure what I'll get to replace, as I'm in denile about that yet - lol. I'm likely going to just find something cheap so that I really won't care when I get rid of it (for another new Tacoma). Oh well, I'll figure it out.

 

your personal choices are yours, and my opinion is mine, but you asked.

in four years new tacos will be higher, so your payment will be higher

you will more than likely have two house payments for a while if you cant get rid of your current one in a timely manner

when it comes time to build you will more than likely run over your budget, so you will not have the extra money you expected to have (unless you originaly plan on +15% for the build)

family does matter, you already have a roof over you head

get your finances in order, if you have to get rid of something to get another then you arent realy in a good financial position do much.

so would i do it? no i would wait. rethink your spending habbits. and then you personaly will figure out if this a good move or not.

i hope i didnt invade your personal space or make any personal jabs at you, if so it was not intended. just though id give my outlook on it. i just hate to see people strapped for money. good luck with your decision.

 

Randy, you make a very good point. I don't think he has to get rid of the one payment to make another, I just think it would help.

 

I can identify with what you're saying Randy. Part of what you say is on the mark for us, but partly not. I guess I'm mostly looking back at the time when we got into our first place here (many years ago). We had saved up for a fair bit, and shaved down other expenses to make it happen. We were a tiny bit 'house-poor' at the start, but we weathered it pretty well (because we prepared). We're just adapting that type of situation to now I guess. We're at a stage where we likely could afford the house project, and keep the truck - but I'm always the "what if" guy. I know there's a ton of "what ifs" involved in a new house (I draw houses for a living, so I know the process well) - so it's mostly that type of thing that has me concerned.

I wish I was making the kind of money where truck payments and mortgage payments were of little concern, but I still have to gauge them.

 

Good luck either way.

 

Oh Red Deer. I was stuck there at Diagnostic Imaging with a patient today for 3hours. Awesome times. The only thing with selling now and getting a new one later on is two fold. A) If you did get a new one, it'd have the new 4.0L in it from the FJ and 4Runner. B) You could score the same year truck you have now for cheap cause people might trade in for a new model.

 

Yeah, I know I'll get back into a Tacoma the second I can.

I appreciate the feedback here. I like that I got a few different perspectives.